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Business: Report Thursday and Group

business: This legislation is out of date, according to Vancouver Courier. One of the suggestions includes permitting realtors to disclose details about a competing offer to another bidder, if all sides involved agree. In a report Thursday, the group says the Real Estate and Business Brokers Act REBBA which was put in place in 2002, is in need of a revamp.article continues below Trending Stories The top Instagram fall photo spots in Vancouver Has Vancouver become a better place under Mayor Gregor Robertson UBC is on the World's Most Innovative Universities list Here's 11 Vancouver happy hours to check out in fall The average price of a home in 2002 was 275,000 in Toronto and most deals were closed by a fax machine, said Tim Hudak, chief executive of OREA, which has more than 70,000 members. This would include offer price, closing dates and any conditions. Currently, most buyers and sellers participate in a blind bidding process where buyers go in with an offer, in the hopes that they are not outbid. The group says doing so would result in a more transparent multi-offer process that would give buyers more information to make their best offer, and sellers the knowledge that they have received the best offer for a property. ( As reported in the news.